Bank of New York Mellon Corp Has $22.76 Million Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Bank of New York Mellon Corp grew its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 42.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 675,550 shares of the company’s stock after buying an additional 200,837 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.34% of HashiCorp worth $22,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after buying an additional 1,501,953 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of HashiCorp by 293.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after acquiring an additional 3,404,557 shares in the last quarter. Jericho Capital Asset Management L.P. increased its holdings in shares of HashiCorp by 53.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock valued at $89,985,000 after acquiring an additional 1,161,600 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. raised its stake in shares of HashiCorp by 50.0% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after acquiring an additional 949,100 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in HashiCorp by 35.7% in the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after purchasing an additional 716,574 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

Wall Street Analyst Weigh In

HCP has been the topic of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. StockNews.com started coverage on shares of HashiCorp in a report on Friday. They set a “hold” rating for the company. Citigroup began coverage on shares of HashiCorp in a report on Tuesday. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Piper Sandler restated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.08.

Insider Transactions at HashiCorp

In related news, insider Ledger Susan St. sold 22,366 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $743,893.16. Following the completion of the transaction, the insider now owns 143,072 shares of the company’s stock, valued at $4,758,574.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ledger Susan St. sold 22,366 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $743,893.16. Following the completion of the sale, the insider now owns 143,072 shares in the company, valued at approximately $4,758,574.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,421,600. The disclosure for this sale can be found here. In the last three months, insiders sold 406,736 shares of company stock valued at $13,639,660. Company insiders own 22.49% of the company’s stock.

HashiCorp Stock Down 0.3 %

HashiCorp stock opened at $33.73 on Friday. The business has a 50 day moving average price of $33.68 and a two-hundred day moving average price of $30.92. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $34.05. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of -35.14 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative return on equity of 10.60% and a negative net margin of 23.69%. HashiCorp’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) earnings per share. On average, analysts expect that HashiCorp, Inc. will post -0.82 earnings per share for the current fiscal year.

About HashiCorp

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.